Whilst overall revenue of £4,946 million is up 8 per cent (3 per cent excluding acquisitions) EBITDA before specific items and leaver costs at £1,404 million is down £8 million. However new wave revenue of £1,607 million, up 42 per cent, now represents one third of total.
Ben Verwaayen, Chief Executive, commenting on the third quarter results, said: “We have delivered yet another good set of results in a dynamic business environment. Revenue has grown by 8 per cent and new wave turnover - which now represents one third of our business - is up 42 per cent. Earnings per share have grown for the fifteenth quarter in a row and the improving trend in underlying EBITDA continues. BT Retail’s profitability has grown strongly driven by innovative products and services aligned with continued focus on cost management. Our international business continues to grow rapidly and now delivers services in more than 160 countries around the world. We are fast establishing ourselves as a global leader.
Verwaayen concluded, “Broadband growth continues to be very strong with the number of BT Wholesale connections now standing at more than seven million. This is pushing the UK to the front of Europe in broadband take up. The transformation of the business continues to deliver value to our customers and shareholders."